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29.11.2007

Russia's Pharmacy 36.6 posts 9-month net loss

 Russian health and drugstore chain Pharmacy 36.6 on Wednesday posted a nine-month net loss of $41.9 million compared with a net profit of $41.5 million in the same period a year ago.

The company said in a statement results were hit by interruptions in supply to its retail chain from manufacturers.

Last year's net profit was boosted by proceeds from an initial public offering of its generic drug making unit, Veropharm (VRPH.RTS: Quote, Profile, Research), it said.

The net loss in its retail segment widened to $28.3 million from $18.5 million. Veropharm's net profit rose by 33.4 percent to $16 million.

The company also said consolidated revenue rose by 69.8 percent to $590.6 million, while earnings before interest, tax, depreciation and amortisation (EBITDA) were up 4 percent to $12.8 million.

The EBITDA margin decreased to 2.2 percent from 3.5 percent, hit by aggressive regional expansion. It did not provide separate third-quarter results.

The company said its net debt was down to $266.4 million at Nov. 12 from $300.6 million at the end of September.


Source:  reuters.com

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